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Friday newspaper round-up: Apple, Amazon, energy bills

(Sharecast News) - People from working-class backgrounds employed in professional careers earn £6,000 less compared to those from other backgrounds in the same jobs, findings from the Social Mobility Foundation show, underscoring the UK's "shameful" class pay gap. Professionals from poorer upbringings face an average salary of £45,437 - 12% lower than the £51,728 for people from more affluent origins - in research based on quarterly Labour Force Surveys from 2014 to 2022. - Guardian Apple plans to adopt a messaging standard that will allow for a smoother texting experience between iPhones and Android devices, long a point of contention with rival Google. For years, Apple has refused to make its products play nice with devices not designed under its roof, a dynamic exemplified in the green background that is the hallmark of iPhone-to-Android chats. - Guardian

Amazon will start selling cars online from next year, the retail giant has announced. Customers in the United States will be able to choose, customise and buy a vehicle and schedule delivery through a local dealer. Marty Mallick, Amazon's vice-president, said the move was aimed at "changing the ease with which customers can buy vehicles online". - Telegraph

Business leaders and trade bodies from across the UK have called on the chancellor to provide a permanent tax break for investment in next week's autumn statement. In a letter to Jeremy Hunt, almost 100 chief executives and directors of companies including Siemens, Nissan and Astrazeneca urged the government to announce a full expensing regime for companies beyond the current three years, which they say would have a "transformational impact on business investment and growth". - The Times

Energy bills will rise by 5 per cent or almost £100 a year from January after the Israel-Hamas war and industrial action in Australia pushed up gas prices, leading analysts have warned. A household with typical consumption will pay an average of £1,931 a year under the energy price cap from January 1, up from £1,834 at present, according to final forecasts from the consultancy Cornwall Insight. That increase will reverse most of the drop in prices in October when Ofgem last updated the level of the cap, which limits gas and electricity tariffs for most households in Britain. - The Times

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Thursday newspaper round-up: Thames Water, mortgage costs, UK car production
(Sharecast News) - Thames Water has breached its licence to supply water to nearly 16 million people after some of its debt was downgraded to junk status. The regulator Ofwat could now fine Thames, the country's largest water monopoly, up to 10% of its annual turnover, equating to hundreds of millions of pounds. However, since the company is already teetering close to temporary renationalisation, Ofwat is likely to hold off on any immediate large fines. - Guardian
Wednesday newspaper round-up: Reckitt, Tesla, Virgin Atlantic...
(Sharecast News) - Reckitt is under pressure from top shareholders to revisit a sale of its nutrition business, following litigation and a series of other setbacks at the division that have sent the company's share price to decade lows. The FTSE 100 consumer giant acquired the Mead Johnson infant formula business in 2017 for $17bn - its largest-ever acquisition - and it has been plagued by mishaps ever since. Meanwhile, the wider group, which makes Lysol detergent and Durex condoms, has underwhelmed investors as it struggles to build back sales volumes following a period of high inflation and suppressed consumer demand. - Financial Times
Tuesday newspaper round-up: Kamala Harris, Crowdstrike, Vivendi...
(Sharecast News) - Kamala Harris has secured enough delegates from her party to clinch the Democratic presidential nomination, as she pledged to offer Americans a "brighter future" compared to the "chaos, fear and hate" proposed by Donald Trump. The US vice-president was speaking in Wilmington, Delaware, on Monday, the first full day since President Joe Biden dropped his re-election bid and endorsed her for the Democratic presidential nomination, shaking up the 2024 race for the White House. - Financial Times
Monday newspaper round-up: Biden, gambling levy, UK economy...
(Sharecast News) - Kamala Harris, the vice-president, has emerged as the frontrunner to replace President Biden as the Democratic nominee for the election against Donald Trump in November. Biden, 81, announced yesterday afternoon that he would drop out of the race. In the hours that followed, Harris, 59, was endorsed by leading Democrats, prospective rivals and the chairs of all 50 state parties. - The Times

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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